Owners hound AMP
The blistering vote of 61.5 per cent against the remuneration report at its AGM on Friday is the measure of the duress ahead for AMP. The remnants of its board will mostly resign soon enough.A second vote of 37.7 per cent against the re-election of director Andrew Harmos, a New Zealand lawyer, confirms the desire among owners of AMP to seek accountability for the misconduct admitted to the Hayne royal commission."To date, more than 50 per cent of the board have left or are leaving," Mike Wilkins, the interim executive chair of AMP told the annual meeting.People "have questioned if there is anything else in our advice business to come," Wilkins admitted.AMP would, he said, "provide further clarification at or before" it's next results, those for the half year to June 2018.Incoming AMP chair David Murray would "lead a program of accelerated board renewal," Wilkins said.